Last Thursday 28th July, the Governing Council of the ECB decided to increase the key interest rates by 0.5 percent, which differed from the initial plan to increase rates by 0.25 percent. But has it not come too late? Other major central banks reacted to inflation much earlier. We started the normalisation of our monetary […]
Council agrees on a recommendation on the changeover of Ukrainian banknotes to EU currencies
The Permanent Representatives Committee endorsed a Council recommendation on the conversion of hryvnia banknotes into the currency of member states hosting people escaping the war in Ukraine. The objective is to further support refugees who are having difficulty exchanging their banknotes into EU currencies. The recommendation invites member states to set up national schemes that […]
The EU is taking steps to deliver on its comprehensive strategy to deal with banks’ bad loans.
EU ambassadors today approved the Council’s position on a proposal for a common framework and minimum requirements for out-of-court mechanism to recover the value from loans guaranteed with collateral in case the borrower is not able to pay it back. Effective out-of-court enforcement can help prevent the accumulation of non-performing loans (NPLs), as it provides […]